Punjab Government Launches ‘CM Punjab Asaan Karobar Finance Scheme Digital Card 2025
CM Punjab Asaan Karobar Finance Scheme 2025
The Punjab government has introduced two groundbreaking initiatives—CM Punjab Asaan Karobar Finance Scheme and Asaan Karobar Card—to revolutionize the small and medium enterprise (SME) sector. These schemes aim to provide financial support, simplify business operations, and foster economic growth across the province. With interest-free loans, digital payment solutions, and streamlined processes, these initiatives are set to empower entrepreneurs and drive Punjab’s economic development.
Overview of the CM Punjab Asaan Karobar Finance Scheme
The CM Punjab Asaan Karobar Finance Scheme is a flagship program designed to provide interest-free loans to small entrepreneurs. It offers loans of up to PKR 1 million through a Digital SME Card, ensuring transparency and ease of access. The scheme is structured to support business growth and sustainability through digital channels like mobile apps and POS systems.
Key Features of the Asaan Karobar Finance Scheme
- Maximum Loan Limit: PKR 1 million
- Loan Tenure: 3 years
- Loan Type: Revolving credit facility for 12 months
- Repayment Term: 24 equal monthly installments after the first year
- Grace Period: 3 months from card issuance for repayment commencement
- End-User Interest Rate: 0%
Loan Usage
- Vendor and supplier payments
- Utility bills, government fees, and taxes
- Cash withdrawal (up to 25% of the limit) for miscellaneous business purposes
- Digital transactions through POS and mobile app
Eligibility Criteria
- Applicant Age: 21 to 57 years
- Residency: Pakistani national residing in Punjab
- Business Location: Existing or prospective business located in Punjab
- Documentation: Valid CNIC and mobile number registered in the applicant’s name
- Credit History: Clean credit history with no overdue loans
- Application Limit: Only one application per individual and business
How to Apply?
- Online Application: Submit applications digitally via the PITB portal.
- Processing Fee: A non-refundable fee of PKR 500 is required.
- Verification: Digital verification of CNIC, creditworthiness, and business premises is conducted by authorized agencies.
Benefits of the Asaan Karobar Card
The Asaan Karobar Card complements the finance scheme by offering a digital payment solution for small entrepreneurs. It ensures seamless transactions and efficient fund utilization.
Key Benefits
- Quick Access to Funds: Loans are disbursed swiftly through the Bank of Punjab.
- Transparent Transactions: Funds are restricted to business-related purposes, blocking non-essential transactions.
- Digital Convenience: Transactions can be made through POS systems and mobile apps.
Loan Usage and Repayment Details
- First 50% Limit: Available for use within the first 6 months.
- Second 50% Limit: Released upon satisfactory usage, regular repayments, and registration with PRA/FBR.
- Repayment Schedule: The remaining balance after the first year is repaid over 2 years in Equal Monthly Installments (EMIs).
Charges and Fees
- Annual Card Fee: PKR 25,000 + FED
- Additional Charges: Life assurance, card issuance, and delivery charges are covered by the scheme.
- Late Payment Charges: Applicable as per the bank’s policy.
Security and Verification
- Personal Guarantee: Digitally signed by the borrower.
- Life Assurance: Included in the portfolio.
- Business Verification: Urban Unit conducts physical verification of business premises within 6 months of loan approval and annually thereafter.
CM Launches Asaan Karobar Finance Scheme & Digital Card 2025
Additional Support for Applicants
- Feasibility Studies: Available on PSIC and BOP websites for startups and new businesses.
- Helpline: Call 1786 for assistance.
- Website: Visit https://akc.punjab.gov.pk/cmpunjabfinance for more details.
Pros and Cons of the CM Punjab Asaan Karobar Finance Scheme
Pros
- Interest-Free Loans
- Digital Convenience
- Flexible Repayment
Cons
- Limited Loan Amount
- Eligibility Restrictions
- Documentation Requirements
Frequently Asked Questions (FAQs)
Q1. Who is eligible for the Asaan Karobar Finance Scheme?
A: Pakistani nationals aged 21 to 57, residing in Punjab, with a valid CNIC and a registered mobile number.
Q2. How can I apply for the scheme?
A: Applications can be submitted digitally via the PITB portal. A non-refundable processing fee of PKR 500 is required.
Q3. What is the maximum loan amount?
A: The maximum loan amount is PKR 1 million.
Q4. Are there any hidden charges?
A: No hidden charges. However, an annual card fee of PKR 25,000 + FED applies.
Why This Scheme is a Game-Changer for Punjab’s Economy
The CM Punjab Asaan Karobar Finance Scheme and Asaan Karobar Card are set to transform Punjab’s SME sector by providing financial support, simplifying processes, and promoting digital transactions. These initiatives will empower entrepreneurs, boost industrial growth, and contribute to the province’s economic stability.
attention
Are you a small entrepreneur in Punjab? Don’t miss this opportunity to grow your business with interest-free loans and digital payment solutions. Apply now at https://akc.punjab.gov.pk/cmpunjabfinance or call 1786 for assistance.